AllianceBlock Joins Open Wealth Association in Move to Bridge Old Finance with DeFi

AllianceBlock has joined the Open Wealth Association in order to provide a bridge between DeFi and traditional finance..

The Open Wealth Association seeks to define, maintain and operationalize the open Application Programming Interface (API) standard for the global wealth management community. Alliance Block describes its mission of combining DeFi with “TradFi” as the future of finance in which “the best of both worlds can work together to increase capital flows and technological innovation — we’re making that a reality.”

AllianceBlock offers a compliant gateway for institutional players to access DeFi with members being top-tier banking and traditional finance institutions in Switzerland. These compliant solutions include an NFT lending platform for illiquid assets (e.g. art, collectibles, illiquid funds) for wealth managers and a decentralized investing platform for investors and start-ups.

Rachid Ajaja, CEO and founder of AllianceBlock said, one of the greatest challenges to the adoption and integration of DeFi is a lack of understanding.

“In joining the Open Wealth Association, AllianceBlock is opening its door to other members, where we will both lend our expertise and learn from those working at the forefront of change within the global financial system. AllianceBlock is well-poised to educate a new network of institutional players about DeFi’s ability to reshape the traditional finance world, making it more open, streamlined, and cost-effective. We are excited to work with a host of incredible people to foster innovation, collaboration, and further integration of DeFi  across the finance industry.”

AllianceBlock adds that recently it has been boosting its presence across Switzerland and joining the Crypto Valley Association (CVA). AllianceBlock is also a member of the London Stock Exchange Group Partner Platform.



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